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News Release

Tower and Jazz Semiconductor Host Series of Worldwide Technology and Marketing Conferences

Companies to Present Analog-Intensive Mixed-Signal (AIMS) Technologies and
Design Enablement Capabilities for Production of Advanced ICs

Conferences will Target Cross-Selling Opportunities Among Diverse Customer
Bases of Both Companies

MIGDAL HAEMEK, Israel, and NEWPORT BEACH, Calif., November 5, 2008 - Tower
Semiconductor, Ltd. (NASDAQ: TSEM, TASE: TSEM), and Jazz Semiconductor, Inc., a
Tower Group Company, today announced they will host a series of global technology
conferences in North America, Europe and Asia. The conferences will focus on
presenting Analog-Intensive Mixed-Signal (AIMS) process technologies and design
enablement capabilities offered by the companies for the production of advanced
integrated circuits (ICs). The merger of Tower and Jazz has created significant crossselling
opportunities from Tower to Jazz customers and from Jazz to Tower customers.
The conferences demonstrate the companies' continued dedication to meeting customer
needs for expanded process offerings, industry-leading design enablement services, and
increased capacity.

The global conference series follows Jazz Semiconductor's third annual technology
conference held recently at its Newport Beach headquarters on October 23, 2008. The
first conference in the global series will be held on November 12, 2008 in San Jose,
California at the Wyndham Hotel, followed by a London event on December 9, 2008 at
the Heathrow Marriott. These one-day conferences will include an overview on the
Tower/Jazz merger, the benefits to customers, a summary of specialty technology
solutions, a financial overview and the corporate strategic direction. Similarly, several
other conferences will be held in 2009 in the following cities: Tel Aviv, Taipei, Shanghai,
Tokyo and Boston.

"Having recently attended the Jazz Annual Technology Conference, the information
presented was valuable in understanding the full spectrum of process offerings and
design enablement capabilities that Jazz and Tower now can offer their customers postmerger," said Len Jelinek, Director and Chief Analyst, Semiconductor Manufacturing
Services, iSuppli Corporation.

In addition to the strategic overview, the global conference series will include
presentations from Jazz focusing on market needs and technology solutions for
RF/mmWave and High Performance Analog (HPA), SiGe BiCMOS, Power Management
(LDMOS) and MEMS, as well as presentations from Tower on CMOS Image Sensors
(CIS), IDM Process Transfer capabilities and Embedded Non-Volatile Memory (eNVM).
A detailed technical update of the companies' world class Design Enablement
Technology including design kits, modeling and design tools offered by Jazz and Tower
will also be presented.

"This series of technology conferences is designed to provide our customers and
prospective customers all over the world with an opportunity to hear firsthand how the
merger of Jazz and Tower meets their growing needs for the development of advanced
analog-intensive mixed-signal (AIMS) ICs," said Chuck Fox, senior vice president of
worldwide sales, Tower Semiconductor. "By offering presentations on several key
commercial processes and market offerings, attendees will become familiar with our key
differentiators and the breadth of solutions we provide as a leading global specialty
foundry."

For more information on the San Jose and London conferences and to find out
upcoming dates for other cities, please visit the news and events sections at
www.jazzsemi.com or www.towersemi.com.

Safe Harbor Regarding Forward-Looking Statements
This press release includes forward-looking statements, which are subject to risks and
uncertainties. Actual results may vary from those projected or implied by such forwardlooking
statements. A complete discussion of risks and uncertainties that may affect the
accuracy of forward-looking statements included in this press release or which may
otherwise affect Tower's and Jazz's business is included under the heading "Risk
Factors" in Tower's most recent filings on Forms 20-F, F-3, F-4 and 6-K, as were filed
with the Securities and Exchange Commission (the "SEC") and the Israel Securities
Authority and Jazz's most recent filings on Forms 10-K and 10-Q, as were filed with the
SEC. Tower and Jazz do not intend to update, and expressly disclaim any obligation to
update, the information contained in this release.

TowerJazz manufactures integrated circuits for more than 200 customers worldwide in growing markets such as consumer, automotive, medical, industrial, and aerospace & defense, among others. more information